UOB’s Citi acquisition to help it grow in Asean

Strategic move: People walk into the UOB building in Singapore. The bank completed its acquisition of Citi’s consumer franchise in Malaysia last year. — AFP

SINGAPORE: UOB’s S$5bil acquisition of Citigroup’s consumer businesses in Malaysia, Thailand, Vietnam and Indonesia will be a game changer by doubling the bank’s Asean customer base outside Singapore and accelerating its regional customer base target five years ahead of time.

So says UOB’s head of group retail Eddie Khoo, who helped oversee the acquisition.